I am not rich but between me and my wife we both make about 70,000 a year! We pay taxes every year not a whole lot but we still owe! The rich already pay most of the taxes so the unemployed and lazy people can live! What exactly is their fair share! People who pay no taxes and get government benefits should not have a say so in the game! Again I ask what is their fair share?
WillsTigers LSU Fan New iberia Member since Sep 2009 162 posts
re: What is a "rich" person fair share?(Posted by WillsTigers on 12/1/12 at 12:46 pm to C)
Class warfare! Jealousy is one of the seven deadly sins! I would love to be rich who wouldn't ! But I don't want their money they earned it not me! Too many people want shot for free I feel sorry for America!
lsuprof LSU Fan Baton Rouge, Louisiana Member since Dec 2008 382 posts
re: What is a "rich" person fair share?(Posted by lsuprof on 12/1/12 at 3:09 pm to WillsTigers)
According to data from the Congressional Budget Office (CBO), the highest 5% of earners earn 26% of all income and pay 40% of all federal taxes and 64% of federal income taxes. The highest 10% of earners earn 36% of all income and pay 52% of all federal taxes and 78% of federal income taxes.
On the other side, the bottom 40% of earners earn 15% of income and pay 4% of all federal taxes and -10% of federal income taxes. (The minus means that they receive payments back from the federal government at tax time, presumably through programs such as the Earned Income Tax Credit.)
Obviously, what is a "fair" share will depend on how one defines "fair."
Why does this generation of wealthy have lower tax rates that previous generations?
What have the wealthy done the past 10+ years to hold up their end of lowering taxes to stimulate the economy?
I mean isn't that the argument? Lower taxes on the rich boosts the economy?....okay... Taxes have been lower....where's the boost?.....or are taxes not low enough for the boost...we have to "trust" that a Lil bit more tax breaks to the rich....and everything will be great